Quantinno Capital Management LP Sells 115,729 Shares of SBA Communications Corporation $SBAC

Key Points

• Quantinno Capital Management cut its SBA Communications stake by 33.9% in the first quarter, selling 115,729 shares and retaining 225,281 shares worth approximately $38.8 million.
• Other major institutional investors, including Dodge & Cox and Diamond Hill Capital, increased their positions; institutions collectively own 97.35% of SBAC’s outstanding shares.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $235.28, while SBAC recently traded at $181.90, near the lower portion of its $162.41–$234.64 52-week range.

Quantinno Capital Management LP lowered its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 33.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 225,281 shares of the technology company's stock after selling 115,729 shares during the period. Quantinno Capital Management LP owned approximately 0.21% of SBA Communications worth $38,773,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBAC. Dodge & Cox raised its position in SBA Communications by 24.1% in the 4th quarter. Dodge & Cox now owns 11,996,134 shares of the technology company's stock valued at $2,320,412,000 after buying an additional 2,328,837 shares during the last quarter. State Street Corp boosted its holdings in SBA Communications by 3.3% during the 4th quarter. State Street Corp now owns 4,911,615 shares of the technology company's stock worth $950,054,000 after acquiring an additional 158,738 shares during the last quarter. Geode Capital Management LLC boosted its holdings in SBA Communications by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,085,112 shares of the technology company's stock worth $594,655,000 after acquiring an additional 16,153 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of SBA Communications by 9.7% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,034,920 shares of the technology company's stock worth $393,615,000 after acquiring an additional 179,591 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of SBA Communications by 0.5% in the 4th quarter. Invesco Ltd. now owns 1,815,032 shares of the technology company's stock worth $351,082,000 after acquiring an additional 9,656 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SBAC shares. Royal Bank Of Canada dropped their price target on shares of SBA Communications from $245.00 to $210.00 and set an "outperform" rating on the stock in a research report on Friday, July 10th. Scotiabank increased their price objective on shares of SBA Communications from $223.00 to $230.00 and gave the company a "sector perform" rating in a research note on Friday, May 1st. Weiss Ratings restated a "hold (c)" rating on shares of SBA Communications in a research note on Monday, July 20th. Morgan Stanley upped their target price on SBA Communications from $215.00 to $225.00 and gave the company an "equal weight" rating in a report on Thursday, April 9th. Finally, The Goldman Sachs Group began coverage on SBA Communications in a report on Friday, June 26th. They set a "neutral" rating and a $205.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $235.28.

SBA Communications Stock Performance

NASDAQ SBAC opened at $181.90 on Friday. SBA Communications Corporation has a 52-week low of $162.41 and a 52-week high of $234.64. The company has a 50-day simple moving average of $189.91 and a 200 day simple moving average of $194.77. The company has a market capitalization of $19.29 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00.

SBA Communications Profile

SBA Communications Corporation NASDAQ: SBAC is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.

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